West Leederville, Western Australia - Solis Minerals Limited (ASX: SLM) ('Solis' or the 'Company') is pleased to announce an update on exploration activities at the Cinto Project Peru.

Solis has recently completed a first pass geochemical programme at the Cinto Project and has finalised an access agreement with the local community to fast-track drill exploration at this location.

Executive Director, Matthew Boyes, commented: 'We are very pleased to have commenced exploration activities at Cinto, its location and initial geochemical rock chip results are extremely compelling. I am most excited about the geochemical signature we are seeing which demonstrates that copper mineralisation is present with associated metals in very similar corresponding concentrations to the mineralisation present at the massive Toquepala deposit, potentially indicating that the mineralisation at surface is located in close proximity to a large porphyry system.

'I am looking forward to commencing geophysical programmes in conjunction with a detailed mapping programme and applying for permits for the first pass drill programme. Our Peruvian assets have been significantly underexplored for too long. We now have a pipeline of very high-quality drill targets at Ilo Este and Chancho al Palo which are both being permitted for drilling. Cinto is now shaping up to be an equally significant high quality exploration target'.

Cinto Geology and mineralisation

The Cinto Project is traversed by the transcurrent Incapuqio fault system which is a major regional structure trending N125E (NW-SE) that is at least 400km long and up to 10km wide in places. Late Cretaceous-Early Palaeogene intrusions related to the formation of major porphyries (Cuajone, Quellaveco, Toquepala) were probably favoured by the transcurrent nature of the Incapuquio fault and the zone and its margins form a focus of mining and exploration in southern Peru. The Cinto Project is situated in Toquepala Group volcanic and volcanosedimentary rocks which are coeval (same period) as the intrusives in the area and host the Toquepala porphyry. The fault is the limit of the Oligocene Moquegua Formation basin to the south-west and conglomerates occur in the southern margin of the project.

Initial mapping programs have identified a zone within and bordering the Incapuquio Fault system that shows the presence of abundant copper oxides with artisanal workings.

The zone, approximately 200 x 100m in extent, consists of shales and tuffs with argillic and propylitic alteration showing considerable multi-directional faulting and brecciation with Cu oxides occurring in distinct patches. Several assays returned copper values greater than 1% and one high grade sample returned 7.14% Cu in a highly mineralised oxide zone. Some mineralised structures are at high angles to a bounding splay of the Incapuquio fault to the north. The nature of the occurrence (mineralisation breccias, abundant copper oxide mineralisation in places) suggests a proximal source. Geochemical results (associated Ag, Au, Mo and zinc) reflect a chemistry similar to the neighbouring Toquepala deposit1. The copper occurrence is being considered as a marker for a potential porphyry style mineralisation in the area.

The mapping crews are now mobilising to site to systematically cover the entire tenement package and identify areas of highest prospectivity. No geophysical data is available for the project and first-pass drone magnetometry will be carried out to target magnetite occurrences potentially related to porphyry alteration. The thin conglomerate cover in the south of the granted permits will be covered by drone magnetometry as field observations indicate the alteration continues southwards in this area. Follow-up Induced Polarisation (IP) geophysical studies will be carried out over areas of interest to evaluate primary drill targets.

Drill permitting at Ilo Este and Ilo Norte

Both Ilo Este and Ilo Norte have been recently covered by magnetic and IP surveys that have identified drill targets and drill permitting to test these targets is underway4.

This announcement is authorised by Matthew Boyes, Executive Director of Solis Minerals Ltd.

Contact:

Matt Boyes

Executive Director

Solis Minerals Limited

Tel: +61 8 6117 4795

Investor Relations

Morrow Sodali

Tel: +61 (8) 6160 4900

About Solis Minerals Ltd.

Solis Minerals is an emerging lithium explorer focusing on Latin American critical minerals.

The Company owns a 100% interest or option to acquire 100% interest in the Borborema Lithium Project in NE Brazil, covering 26,100ha.

Brazil is rapidly growing in global importance as an exporter of lithium to supply increasing demand of battery manufacturers. Both projects cover highly prospective, hard-rock lithium ground on which early-stage reconnaissance mapping and sampling have verified. Drilling programmes are either underway or due to commence shortly.

In addition, Solis also holds a 100% interest in 41,400ha of combined licences and applications of highly prospective IOCG (iron oxide copper/gold) and porphyry copper projects in southwestern Peru within the country's prolific coastal copper belt - a source of nearly half of Peru's copper production.

Forward-Looking Statements

This news release contains certain forward-looking statements that relate to future events or performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected, including, but not limited to, market conditions, availability of financing, actual results of the Company's exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labour issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof, and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.

Competent Person Statement

The information in this ASX release concerning Geological Information and Exploration Results is based on and fairly represents information compiled by Mr Matthew Boyes, a Competent Person who is a Fellow of the Australasian Institute of Mining and Metallurgy. Mr Boyes is an employee of Solis Minerals Ltd. and has sufficient experience which is relevant to the style of mineralisation and types of deposit under consideration and to the exploration activities undertaken to qualify as a Competent Person as defined in the 2012 Edition of the 'Australian Code for Reporting of Mineral Resources and Ore Reserves'. Mr Boyes consents to the inclusion in this report of the matters based on information in the form and context in which it appears. Mr Boyes has provided his prior written consent regarding the form and context in which the Geological Information and Exploration Results and supporting information are presented in this Announcement.

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